PE M&A Activity ↑12.4%│Industrial EBITDA Multiples 7.2×│B2B Buyer Trust Index ↓31%│SEO Click-Through Rate ↓44%│LMM Deal Volume ↑8.1%│Sales Hire Failure Rate 67%│Organic Growth Gap 2.3× plan│PE Dry Powder $2.59T│PRESS: Ed Marsh at PE Operating Partners Summit│DEAL: Midwest controls automation acquired at 7.8×│PE M&A Activity ↑12.4%│Industrial EBITDA Multiples 7.2×│B2B Buyer Trust Index ↓31%│SEO Click-Through Rate ↓44%│LMM Deal Volume ↑8.1%│Sales Hire Failure Rate 67%│Organic Growth Gap 2.3× plan│PE Dry Powder $2.59T│PRESS: Ed Marsh at PE Operating Partners Summit│DEAL: Midwest controls automation acquired at 7.8×│
Mike Miller on the Journey from Engineer to Sales Rep to Sales Manager
A great sales rep may not be a great manager. Mike Miller shares his journey from veteran to engineer to sales rep to sales manager in industrial sales.
Ed Marsh
INDUSTRIAL REVENUE GROWTH
5 MIN READ
Navigating the Transition from Sales Rep to Sales Manager Requires Savvy and Coaching
My conversation with Mike begins hundreds of feet below the plains of Wyoming. A sharp contrast to the image many have of the Air Force as soaring into the wild blue yonder.
And that's a perfect metaphor for most of our conversation in which we dive into the contradictions between what's commonly accepted vs. what's real.
Engineers often struggle in industrial sales because of the detailed technical knowledge - they end up on conversations that don't progress deals, because they're talking about what seems like important information.
Sales reps may be promoted to sales manager based on the strength of their performance, but may find that the radically different demands of management, and managing recent peers, are unwelcome challenges.
Mike's made these transitions and speaks openly and authentically on lessons he's learned along the way.
Connect with Mike for insights on successfully navigating industrial sales challenges including engineer to technical sales rep, and sales rep to sales manager.
Mike Miller is an Air Force Veteran and experienced capital equipment sales engineer. Today, he's a sales manager with a unique background in aerospace engineering and military service.
Mike and Ed discuss the common sales challenges faced by industrial manufacturers, the importance of balancing technical knowledge with sales excellence, and the transition from military to sales roles. Mike shares insights on effective sales training, the significance of understanding customer needs beyond technical specifications, and the challenges of moving into management.
The conversation highlights the importance of:
relationship management
proper onboarding
lessons learned from military discipline that can be applied to sales
dual roles of leadership and management in sales
importance of accountability and control.
Mike shares insights on transforming traditional sales processes, managing customer relationships, and the significance of hiring and developing sales talent. The discussion also covers pricing strategies, sales compensation, and the challenges facing US manufacturing. Miller concludes with practical advice for sales leaders seeking to improve their processes and outcomes.
Takeaways
Sales challenges in manufacturing are common and multifaceted.
Mike Miller's background in aerospace engineering and military service informs his sales approach.
Transitioning from military to sales requires adaptability and a willingness to learn.
Preconceptions about sales often differ from the reality of the role.
Understanding customer needs is more important than technical details in sales.
Effective sales training and onboarding are crucial for success.
Building relationships with customers is key to successful sales.
Management requires a different skill set than being a top-performing sales rep.
The importance of feedback and buy-in when implementing changes in sales strategy.
Lessons from military discipline can enhance sales performance and management. Leadership and management are both essential in sales roles.
Accountability comes in different forms: management vs leadership.
Hope should be replaced with a proactive mindset.
Qualifying opportunities is crucial for effective sales.
Sales engineers must balance technical knowledge with sales skills.
Every customer interaction should provide value.
Understanding market trends is vital for sales success.
Hiring great salespeople requires a focus on technical aptitude.
Sales compensation should align with intrinsic and extrinsic motivations.
Building empathy within teams enhances collaboration and understanding.
Takeaway Quotes from Mike Miller
"You have to keep getting down to why does this matter?"
"Management is a mindset and a skill set."
"Hope is no longer in our language."
Outline
00:00 Introduction to Sales Challenges in Manufacturing 01:20 Mike Miller's Unique Background 05:14 Transitioning from Military to Sales 09:14 Preconceptions of Sales vs. Reality 14:40 The Importance of Business Over Technical Details 20:32 Navigating Customer Conversations 25:44 The Role of Sales Training and Onboarding 31:09 Lessons from the Air Force in Sales 36:47 Transitioning to Sales Management 43:14 Navigating Peer-to-Boss Dynamics 45:48 Leadership vs Management in Sales 48:27 Transforming Sales Processes 51:16 Accountability and Control in Sales 54:32 Managing Customer Relationships 58:53 Sales Team Dynamics and Market Focus 01:02:08 Hiring and Developing Sales Talent 01:09:34 Sales Compensation and Motivation 01:13:31 Balancing Individual and Team Dynamics 01:17:10 The Value of Sales Experience for Future Generations 01:20:00 Concerns for the Future of US Manufacturing 01:24:02 Final Advice for Sales Leaders
Help Your Team Move From Sales Rep to Sales Manager - Responsibly!
Creating a Framework for Industrial Revenue Growth
The sales management role is perhaps the true fulcrum in industrial sales and manufacturing revenue growth. Learn about the various factors that complement strong sales management in my ORE™ (Overall Revenue Effectiveness) Framework.
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Ed was going to be an architect because he loved the nexus of engineering and design. That was before was going to be an engineer; before he graduated from Johns Hopkins; before he was an Army Infantry Officer (Airborne Ranger); before he set B2B industrial sales records; before he was partners with a German capital equipment manufacturer; before he founded a distribution/rep company for industrial products in India; until he decided that managing a business and employees wasn’t what he enjoyed. Now that Ed’s got all of that out of his system he runs a consultancy that helps US manufacturing companies grow by applying process excellence to business development – completing the full circle back to an engineering & design combination. His practice is built on a unique methodology which combines powerful digital marketing methodologies (a HubSpot partner) with his extensive international biz dev experience.
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